Almost one in three adults (32 per cent) have aspirations to build their own home but the biggest barrier is securing the finance.

These are the finding of online research undertaken by YouGov on behalf of the National Custom and Self Build Association and the Building Societies Association.

Although many people dream about designing their own home, one in 10 (9 per cent) said they were likely to do so in the future. This compares to around 5 per cent of new homes being built each year as custom and self build.

Interest is higher among the younger generation, with nearly half (48 per cent) of 18 and 24-year-olds saying they were interested. This aspiration reduced with age as only 18 per cent of those aged 55 and over expressed an interest.

This represents a disconnect, as younger people tend to have less savings and earning potential. Six out of 10 people across all age groups (59 per cent) said financing the project is the biggest hurdle to a self-build home.

Three quarters of people (74 per cent) said the main benefit for building is the ability to design a home to your own specifications. This is followed by being able to create a home that can adapt to meet current and future needs (50 per cent).

Reducing environmental impact was a key factor behind the ambition to self build for 33 per cent of people while 89 per cent said an energy efficient home was important.

The Covid-19 crisis has changed people’s perceptions of what they want out of their home, with 48% wanting more space and 39 per cent needing a home office. One in 20 (5 per cent) said they had considered designing and building their own home as a response to the pandemic.

NaCSBA CEO Andrew Baddeley-Chappell, says: “The current lack of choice in our new homes market makes it different from every other country and every other consumer market.  Only when there is diversity of choice will we get the diversity of homes that we want and need.”

BSA head of mortgages and housing Paul Broadhead comments: “It’s great to see that there are so many aspiring self and customs builders, particularly among the youngest generation.

“Mutual lenders are leading the way to help these self-build dreams become a reality, with 21 building societies currently lending to people building their own homes, they are the clear choice for many and are leaders in this space.”